BoI green-lights three tourism projects worth P1.13B
Posted 5 years ago
THE Board of Investments (BoI) said it has approved three tourism projects worth a combined P1.13 billion, including a hotel owned by Ayala Land, Inc.
In a statement on Tuesday, BoI said it gave the go-signal for the three projects under the Special Laws List on Tourism facilities in the 2017 Investment Priorities Plan (IPP).
The biggest of the three projects is Seda Capitol Central in Bacolod City. Ayala Land Hotels and Resorts Corporations invested P662 million to build the eight-storey hotel with 154 rooms and suites.
Located 20 minutes from Bacolod-Silay International Airport, Seda Capitol Central is scheduled to start operations in January 2018.
The BoI also approved UC-1 Corporation’s P267-million Seven Seas Waterpark Resort in Misamis Oriental. The nine-hectare resort features pools, an events tent, restaurant and other amenities.
Seven Seas Waterpark Resort started commercial operations in October with 176 employees. It is targeting to attract up to 280,000 customers every year.
At the same time, 888 Subic, Inc. received the green light from the BoI for its P197-million Central Park Reef Resort in Olongapo.
Central Park Reef Resort is a beachfront six-storey hotel with 110 rooms, two restaurants and two infinity swimming pools. It is expected to open in June 2018 with 64 personnel.
“The recent launching of the tourism road maps under the Hotel and Meetings, Incentives, Conventions and Exhibitions (MICE) shows we remain committed in collaborating with industry stakeholders to boost tourism in the country,” Trade Undersecretary and BoI Managing Head Ceferino Rodolfo was quoted as saying in a statement.
“That is why we will pursue a proactive and targeted approach to address the challenges of tourism in partnership with the relevant associations, academe and other government agencies. We can build on the competitiveness of this industry and compete with the rest of our ASEAN neighbors.”